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Investors seem to have lost interest in Metaverse-related tokens. Out of the top 10 crypto assets in the niche market, he is the only one with positive performance in the last 30 days.
ApeCoin (APE), which is affiliated with Bored Apes, has fallen 26.42% over the past 30 days, according to CryptoSlate data. Down 7.84% in the 7-day indicator, it is currently trading at $4.34.
During this period, Decentraland’s MANA decreased by 14.2%, The Sandbox’s SAND decreased by 11%, Theta decreased by 3.8%, Axie Infinity’s AXS decreased by 14.76%, and Enjin Coin’s ENJ decreased by 10.84%. . WAX and others were down 9%, Radio Caca’s CACA was down 25.2%, and Ultra UOS was down 25.31%.
The only exception among the top 10 Metaverse tokens over the last 30 days is GenshoKishi Metaverse MV, which is up 11%.
Meanwhile, all metaverse crypto tokens are down 5.65% over the last 7 days and 2.97% over the last 24 hours.
After the 2021 hype raised the value of the metaverse lands to astronomical heights, the value of these lands dropped dramatically.
As of August, land prices for the Metaverse Project are down 85% from their peak. According to available data, land sales have peaked in Decentraland. $37,238 Launched in November 2021, the current average price is around $6,600. The average land sale price at The Sandbox also dropped from his over $20,000 to about $3,000.
Yuga Labs-related Otherdeeds for Otherside launched with a bang earlier this year with an average land price of $25,247, but its value has fallen below $5,000.
The user base of these metaverse platforms also remained flat. Decentraland’s average concurrent players dropped to 477 from his 2,341 in February. Active traders are also declining. Otherdeeds had the highest number, peaking at 51,641 in April but dropping to 826.
Some projects such as Decentraland, Voxels, Somnium Space, NFT Worlds and Tree Verse have less than 100 active traders as of October 17th. 100 yen on the day.
Facebook’s attempt to rebrand its business to focus on the metaverse has also been completely successful.A recent report by Washington Jury said that Meta’s main Metaverse Horizon world had only 200,000 monthly active users (MAU) in October.
That’s a far cry from the 280,000 user projections, which were forced to revise after realizing the 500,000 MAU target might be overkill. It’s one of the VR headsets in the market, but according to the company’s data, the Wall Street Journal reports that more than 50% are unused six months after purchase.
